Shelton CT single family home sales for June 2016 were down 25% as compared to June 2015 sales. However, June sales were the highest for the year to date and increased 25% from last month.
Both listing average and closed sales averages decreased 2% with the median down 4%. This median is in line with the sales price average, but it is important to understand the difference between median and averages when reading market reports.
The absorption rate went back down (from a buyer's market) into a seller's market (statistically) with 5.26 months of supply. Translation: it would take 5.26 months to sell off the present inventory of 184 homes. See the absorption rate chart below for the three-month trend.
Going forward, there are 45 homes under deposit and 63 homes pending.
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Shelton CT June 2016 Homes Sold
as recorded in the Greater Fairfield County MLS
Where was the sweet spot for sales in June? The top spot was claimed by the historically most popular range -- $300K - $400K -- with 37% of sales.
June 2016 sales were up 25% from last month and the highest recorded since last September.
The absorption TREND, which shows the number of months it would take to sell the entire inventory at the same pace, came in at 5.75 months for the last three months, in a seller's market statistically.
This rate is for ALL houses. If you are selling your home, your agent should calculate the absorption rate for your price point to get a more accurate analysis. Some price points favor sellers; others favor buyers.
Thinking of selling? Get a complimentary free market analysis for your Shelton home.
The success in selling your house in Shelton or any other community is dependent upon accurate pricing, effective preparation, calculating the absorption rate for your particular price point, and having a strong online marketing presence.
Contact me for advice on how to list your home effectively in today's market. Get an exceptional marketing plan for your money.
Sellers: Please read Biggest Home Seller Mistakes if you are thinking of listing your home.
Related posts:
Shelton CT Market Report Archive
Living in Shelton CT - Real Estate and Homes and Condos for Sale
Date Source: Greater Fairfield County Multiple Listing Service -- July 26, 2016. No representation or warranty is made to the accuracy of this information.
Shelton CT Real Estate Market Report and Homes Sold - June 2016
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